Add-on Acquisition • Energy Services and Equipment

Halliburton Acquires Red Spider Technology

On December 19, 2012, Halliburton acquired energy services and equipment company Red Spider Technology from EV Private Equity

Acquisition Context
  • This is Halliburton’s 8th transaction in the Energy Services and Equipment sector.
  • This is Halliburton’s 2nd transaction in the United Kingdom.

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M&A Deal Summary

Date December 19, 2012
Target Red Spider Technology
Sector Energy Services and Equipment
Buyer(s) Halliburton
Sellers(s) EV Private Equity
Deal Type Add-on Acquisition

Target Company

Red Spider Technology

Westhill, United Kingdom
Red Spider specializes in supplying innovative downhole intervention and completion products, most of which use its proprietary Remote Open Close technology.
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Buyer Overview 1

Buyer

Halliburton

Houston, Texas, United States

Category Company
Founded 1919
Sector Energy Services and Equipment
Employees48,000
Revenue 22.9B USD (2024)
DESCRIPTION
Entrance to Halliburton's corporate headquarters in Houston, Texas.
Entrance to Halliburton's corporate headquarters in Houston, Texas.

Halliburton is a provider of services and products for the exploration, development, and production of oil and natural gas to oil and gas companies. The company operates in two segments, Completion and Production, and Drilling and Evaluation. Halliburton was founded in 1919 and is based in Houston, Texas.


Deal Context for Buyer #
Overall 17 of 21
Sector: Energy Services and Equipment 8 of 8
Type: Add-on Acquisition 13 of 16
Country: United Kingdom 2 of 2
Year: 2012 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-08-02 Petris Technology

Houston, Texas, United States

Petris is a supplier of practical data management solutions and geosciences applications to the global energy industry. Founded in 1994 and with over 500 clients throughout the world, Petris leverages its insight and knowledge to design technology that integrates information from diverse data stores including managerial, seismic, borehole, production, drilling, and pipeline to enable continually better decision making and application transparency.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-07-16 Optiphase

Van Nuys, California, United States

Optiphase is a provider of interferometric fiber optic sensing solutions, including distributed acoustic sensing (DAS) interrogation systems.

Buy -

Seller Profile 1

SELLER

EV Private Equity

Stavanger, Norway

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2002
PE ASSETS 1.0B NOK
Size Small
Type Sector Focused
DESCRIPTION

Energy Ventures is an independent venture capital firm that manages/advises four venture funds. It actively seeks early- to mid-stage investments in technology companies that deliver a marketable, proprietary product or service in the upstream oil and gas sector. Energy Ventures focuses on investments based in the North Sea area or North America with an international orientation. Established in 2002, Energy Ventures is based in Stavanger, Norway with additional offices in Aberdeen, UK, and Houston, Texas.


Deal Context for Seller #
Overall 12 of 33
Sector: Energy Services and Equipment 9 of 21
Type: Add-on Acquisition 10 of 24
Country: United Kingdom 4 of 10
Year: 2012 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-11-27 READ

Aberdeen, United Kingdom

READ has been supporting oil and gas operators for almost 30 years. Around the globe, READ delivers quality production logging, well integrity and reservoir evaluation solutions. Whatever the conveyance – wireline, slickline or coiled tubing – its technologies and systems are compatible, in memory and real-time. READ was founded in 1990 and is based in Aberdeen, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-04-02 Abrado Wellbore Services

Houston, Texas, United States

Abrado Wellbore Services specializes in creating the optimum wellbore environment through the implementation of innovative downhole cleanout tools, chemical stimulation treatments, and video-based diagnostic technology services. Abrado Wellbore Services is based in Houston, Texas.

Buy -